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AUD/NZD closed back below its 200-DMA...>

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD closed back below its 200-DMA (NZ$1.0828) on Monday, last
dealing at NZ$1.0824, after a brief foray higher during Asia-Pacific trade as
AUD initially outperformed NZD on the back of risk on flows.
- Bears look for a break below NZ$1.0800 to expose Oct 23 low of NZ$1.0777.
Conversely, bulls look for a concerted move back/close above the 200-DMA, with
key moving averages forming nearby resistance levels above, namely the 21-DMA
(NZ$1.0878), 100-DMA (NZ$1.0903) & 55-DMA (NZ$1.0915). Above there, the Oct 15
high (NZ$1.0944) should also provide resistance.
- A stacked AU docket consisting of CPI, trade data and retail sales is present
this week, with NZ focus set to fall on the ANZ business confidence survey.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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